India’s rupee was reported to have ended Friday at a provisional ₹94.93 per U.S. dollar, as a one-paisa difference in the previous session’s reference rate changed the reported daily gain.
PTI said the currency opened at ₹95.21 and strengthened by 33 paise from its cited Thursday close of ₹95.26 to a provisional ₹94.93 per U.S. dollar. The Economic Times’ historical spot table, which identifies Mecklai Financial Services as its data source, lists the Oct. 29 close at ₹95.25. Measured against that rate, Friday’s reported close represents a 32-paise gain. The table had not yet listed an Oct. 30 close.
The discrepancy follows EconoTimes’ earlier coverage of competing rupee closing estimates.
PTI attributed support for the rupee to gains in Indian shares and a weaker U.S. dollar. The Sensex climbed 308.49 points to 74,459.53, while the Nifty added 116.35 points to 23,053.10, PTI reported. Its market snapshot put the dollar index at 101.66, down 0.37%, and Brent crude futures at $114.13 a barrel, down 1.03%. PTI also characterized oil prices as elevated.
Provisional NSE cash-market data showed foreign institutional investors were net sellers of ₹9.436 billion on Thursday. The figures are subject to revision.
PTI reported that International Monetary Fund Communications Director Julie Kozack said Thursday that exchange-rate flexibility would help India absorb energy shocks. Separately, an April IMF blog on Asia’s regional energy shock described currency flexibility as an early way for economies to adjust. In a June briefing, the IMF said higher energy import prices had affected India’s external balance and increased pressure on costs and inflation.
